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Firms red-flag pitfalls of IBC suspension; law's future unsure, say experts

With the Insolvency and Bankruptcy Code, which was the instrument lenders had to make their borrowers fall in line, suspended for a year, many say this makes uncertain the future of a landmark law

Topics
Insolvency and Bankruptcy Code | Coronavirus | Lockdown

Ruchika Chitravanshi  |  New Delhi 

A pension fund is looking for ways of halting its loan repayment.

The reason: It had invested in an infrastructure project that is facing stress due to Covid-related factors, affecting the fund’s income flow. With the Insolvency and Bankruptcy Code (IBC), which was the instrument lenders had to make their borrowers fall in line, suspended for a year, many say this makes uncertain the future of a landmark law. “It is most important to allow companies to focus on getting their businesses back on track without the fear of insolvency ... though it would have been good for ...

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First Published: Thu, May 21 2020. 22:03 IST
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